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Nexon Acquires South Korean Developer ThingSoft

Nexon has entered into a definitive agreement to acquire all outstanding shares of South Korean online game developer THINGSOFT.

Founded in 2010, ThingSoft has established a track record of developing AAA-quality immersive free-to-play (“F2P”) online games. The founders of ThingSoft have a successful track record of collaboration, and have been involved in the development of such hit PC titles as FIFA Online 1, as well as its successful sequel FIFA Online 2. ThingSoft is developing several new titles, including Sangokushi SousoudenOnline and the much-anticipated Project NT, which is expected to launch in 2014.

“ThingSoft has a wealth of experience in the F2P business, and a successful track record of developing AAA content,” said Seungwoo Choi, President and Chief Executive Officer of Nexon Co., Ltd. “Building on our history of successful collaboration together, this transaction leverages the strengths of both companies by providing access to ThingSoft’s developmental capabilities and an exciting pipeline of new titles, and Nexon’s scale and global distribution platform. We look forward to working with the talented ThingSoft team to deliver a robust portfolio of titles to even more players around the world and across platforms.”

ThingSoft is led by first-generation game developer Sangwon Chung, who serves as CEO and Executive Producer. With over 15 years of game development experience, Chung was previously the Senior Vice President of Game Development at Neowiz Games.

“We are thrilled to join the Nexon family,” said Sangwon Chung, CEO and Executive Producer for ThingSoft. “This transaction is the natural next step for ThingSoft as we seek to bring our games to more players and different platforms. As the free-to-play pioneer with global reach and scale, Nexon is the perfect partner to help us do that and we look forward to the benefits of being a part of an even larger organization.”